Selling House Early After Buying

TheJP

TBagpuss said:

HampshireH said:

TheJP said:

Forget about lenders, its a red flag to buyers and they will reduce their offer. Will you make a loss?

May reduce their offer.

Yes, seeing the house being marketed so soon can be a red flag as it can mean that a problem with the property has come to light, however, if you are willing to give an explanation (e.g. relationship having broken down, business failing/needing investment) then  many buyers will still be happy to proceed, just expect them to be a bit more thorough in their enquiries! 

A red flag and an opportunity. As a buyer this tells me the seller is desperate to sell, I'm going in low. The timeline puts people off so not much of a competition. 

Sarah1Mitty2

TheJP said:

Forget about lenders, its a red flag to buyers and they will reduce their offer. Will you make a loss?

Why would they reduce their offer if you explain the reason for selling?

Sarah1Mitty2

Green_hopeful said:

I don’t know the answer to your question but can you get a lodger or two to soften the cost of your house while you sort yourself out. You can get £7500 per year before you have to pay any tax on the income. I found it a good way to pay the bills when I first bought my house. 

Lodgers compromise your lifestyle massively, not really worth it in my opinion.

sammyjammy

Not everyone would even bother to investigate to the extent they knew you had only bought it six months ago!

Sorry you find yourself in this situation OP, hope things work out for you.

Gavin83

Sarah1Mitty2 said:

TheJP said:

Forget about lenders, its a red flag to buyers and they will reduce their offer. Will you make a loss?

Why would they reduce their offer if you explain the reason for selling?

Because people lie. If someone was selling their house due to issues (bad neighbours, house falling down, HMO planned next door, etc) a lot of people would mask these issues as they know full well if they're honest they'll lose money. A lot would come up with a false reason that they believe wouldn't upset the buyer, such as a change in financial circumstances.

As a buyer I'd have to consider this risk in my offer, were I willing to offer at all. Therefore if I was to buy a house that had only been purchased recently I'd be coming in with a low offer and I certainly wouldn't offer anywhere near asking price. If someone else wishes to offer asking price that's up to them but I suspect I wouldn't be alone in this stance.

As TheJP points out if they aren't moving for a problem that'll affect you then it suggests the seller is desperate. Desperate people accept less money and there are those that will take advantage of that. No need to gazunder, just offer a lower price from the beginning.

OP, you will almost certainly lose money on this, even if you did sell for your asking price. I'd stay put if at all possible.